The Logistics Data Bank (LDB) project was launched in the Kolkata Port Trust (KoPT) on Saturday, which aims to track cargo on a real-time basis.
The project was unveiled in July 2016 to make India’s logistics sector more efficient through the use of information technology.
LDB is being implemented by the Mumbai Industrial Corridor Development Corporation Logistics Data Services Ltd — jointly (50:50) owned by the Delhi Mumbai Industrial Corridor (DMIC) Trust and Japanese IT services major, NEC Corporation.
The initiative is expected to help cut logistics cost, which is high in India at 14 per cent compared to 7-8 per cent in the developed nations.
KoPT Chairman Vinit Kumar said the project will make use of the Radio-Frequency Identification (RFID) technology.